Flutter,firing on all cylinders. |
Flutter US revenue YTD 4.2b, DK 3.4b
Flutter US adjusted EBITDA YTD 344m, DK 92m.
I'm doubting DK 950m adjusted ebitda 2025 guidance. |
Probably not too important but did anyone understand the negative cash flow position compared to same quarter last year due to settling derivative/hedging transactions? The figure seemed massive and I wondered if they had dropped a ball. |
Regarding the share repurchase program of up to $5bn.
"The first tranche of the program will launch on November 14, 2024 on the New York Stock Exchange. We intend to repurchase up to $350m of ordinary shares through the end of Q1 2025. A further announcement will be made in due course." |
Yeah, Blackhorse should be filtered. He generally pumps his own stocks on many other stockchats.. as you can see if you look through his profile.
Revenue +6% over expectations was really nice to see as a continuing trend.
(In q2'24 they beat estimates by 6.10% [E:3.4B -> Reported: 3.61B]
"Flutter Entertainment FLUT reported Q3 adjusted earnings late Tuesday of $0.43 per diluted share, swinging from a loss of $0.10 a year earlier.
*Analysts polled by Capital IQ expected $0.23. "
"Flutter Entertainment has raised its full-year 2024 guidance, expecting Group revenue to grow by 22% year-over-year and Adjusted EBITDA to increase by 35%."
So, on both fronts- They crushed this quarter.
Well done Flutter
PostMarket update:
As of right now (14:17UTC-8)
Flut = $258.36 (+10.19) +4.11% |
Had him filtered a long time. But flutter performing nicely again |
I will assume you’re not serious Blackhorse. |
Yes hopefully all gambling stock will rise ! I think within next few years EVOK could be like FLTR type market value |
Looks good at first glance!
R= 3.248 |
Analysts estimates have improved today for the NYSE listing.
E= -0.26
R= 3.064B
Should be interesting to see how close these experts are to the reported figures |
Correct, DK is currently -4% at premarket.
Louisiana is 15th largest sportsbook state in my Excel, or 8th smallest however you wanna look at it. |
I believe DraftKings will be a few % (4% most likely) down when US opens later reacting to this same news. I gather this Bill has to pass the state house and senate and wouldn’t apply until Aug (2025) at the earliest but it is an annoying cloud over the ER tonight |
European stocks are getting slaughtered today, but I'm also sad to hear about Louisiana tax hike proposal.
We'll see at US open whether last nights DraftKings rally gives Flutter some momentum. |
Yup buybacks starting tomorrow would be ideal as would being split between London & New York so the tiresome London dip on small change selling turnover only to rise at NY open can be flattened out. The earlier statement was v vague so will a statement of X million in next Q be issued to give some clarity. Going in for too low a level based on daily action has not helped BP whereas Shell is more significant and boosts on an even day and absorbs institution selling preventing a very bad dayWill indeed be interesting |
Not ideal but in the overall scheme of things a 4m pop with sports only is not a game changer. A smaller state like this may see companies exit and then revenue will fall & unregulated uncontrolled gambling addicts will be harder to manage. Bet365 & Betway have simply exited India after tax hikes as unprofitable. Is that what the gov expected of wanted?Or bigger impact will be Brazil and a look through some numbers indicates that betnational which was 4th in the country is now up to 3rd. With both sports & casino to play for, dereg early next year and a pop of 200m betnacional already has more daily site visits than DK & FD combined |
Last year Q3's results were weak, so the yoy results will be very strong, with currency benefits to add. They've never released any data for NY, in terms of what return does a state paying 51% tax rate make. I expect buybacks to be heavily weighted to the end of the 4 year period. |
Louisiana is the latest state to bid for a massive sports betting tax hike, with Representative Roger Wilder using the state's special session to file a bill proposing a huge increase in the gross revenue tax to 51%. Louisiana currently levies a 15% GGR tax on online sports betting licensees |
FLUT Up $1.30 post market.
I'm really curious to see what % of shares the company is looking to buyback at the beginning of this program. Tomorrow should be interesting... |
DraftKings is rallying today after a number of target price increases.
Only found this one for Flutter: "BTIG Maintains Buy on Flutter Entertainment, raises price target to $305 (from 249$)" |
Didn't think this increase would be happening today. Happy Friday I guess |
Yes, a wonderful bit of craziness today.
Who knows, maybe we might see the stock bump up against $270[NYSE] before the year end. |
Thanks Vraetorian. Really helpful. I am stunned by this surge…I was not expecting it at all .. seems a bit crazy. |
[2hrs ago] (13:16 GMT) Flutter Entertainment Price Target Announced at $306.00/Share by UBS
Also
A promo on Zacks rank.
Flutter Entertainment plc FLUT has an Earnings ESP of +172.73% and a Zacks Rank #3 at present.
"The consensus estimate for FLUT’s EPS is pegged at 17 cents, moved up from 9 cents in the past seven days. It has surprised last-quarter EPS by 80%." |
Anyone have a clue why share price is surging? Seems to be a reaction to DK Earnings conference call unless that is a timing coincidence. |
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